A Chinese company could list in Switzerland as early as this year.

Contemporary Amperex Technology Co. Ltd., the world’s largest producer of electric vehicle batteries, intends to raise at least $5 billion through a global sale of depositary receipts in Switzerland.

The Chinese conglomerate has met with potential advisors to discuss a possible listing this year.

CATL holds the largest share of the global electric vehicle battery market.

Bloomberg reports that the $5 billion GDR will be the largest issuance by a Chinese company seeking to enter the European market.

CATL controls the majority of the global EV battery market. Between January and November 2022, the company sold 165.7 gigatonnes of batteries, more than three times the amount sold by runner-up Chinese battery automaker BYD Co.

CATL raised $822 million in an initial public offering in Shenzhen in 2017 and another 45 billion yuan ($6.7 billion) in a private placement last year.

CATL’s shares fell approximately 18% last year, valuing the company at approximately $172 billion.